Why It Is Better Buying & Selling Real Estate Over the Winter?
We’ve all heard many reasons why homeowners or buyers want to wait till spring to make a move in real estate. The fact of the matter is the reasons are endless so it’s our job as REALTORS® to be equipped with facts and a strong reality check to combat these reasons we hear every day. To help you through the winter season I put together some of the top reasons a client would want to choose this time of year to buy, sell or list a home.
Top Reasons to Sell Real Estate Over the Winter
#1 – Serious Buyers
• Yes there are fewer buyers, but those buyers are usually very SERIOUS about making a purchase or many HAVE to make a purchase.
#2 – Less Competition
• Most sellers wait until the spring or summer to list, so your home will have far less competition
• Spring = Greater supply = Same Demand = Less Money
#3 – January is the Biggest Job Transfer Month
• More corporate relocation moves happen during January than any other time of the year.
• Catch the corporate relocation buyers
#4 – High Attentive Efficient Service
• By putting the home on the market during the winter you experience better, personal, and faster customer service from movers, lawyers, banks, insurance providers etc.
#5 – More Time to Get Top Dollar
• By starting to market your home early, you may be able to secure a higher price with more listing exposure time.
#6 – Time to Shop
• If your home sells quickly, you will be able to shop for your next home during the winter, a great time to find a bargain!
• More time to look and not pressure to shop and beat the other buyers.
#7 – More Advertising Punch
• Most REALTORS® and offices have less inventory during the winter, enabling your home to stand out even more.
• Less marketing noise out there for the buyers and they see your home with ease now.
#8 – The Inexpensive Money Is Changing Fast
• Today’s interest rates are no longer some of the lowest in history. This gives buyers less spending power and decreases your buyer pool as they continue to rise.
• When shopping for your next home, you can benefit from buying now on your new mortgage rate before it goes up.
#9 – 20% of Homes Sold During the Winter
• Buyers and Sellers are usually quite motivated to get the transaction completed.
• This can mean less price haggling and fewer hassles during the process.
#10 – Non-Contingent Buying
• By selling now, you may have an opportunity to be a non-contingent buyer during the spring, when more houses are on the market!
• Less “subject to the sale” offers from buyers and you are not one of them when you are buying your next home.
#11 – No Yard Work
• Great time for a home that needs a yard make over to sell.
• No need to worry about your yard work. Snow makes it look fresh and white.
#12 – Buyers Are Searching
• Buyers begin the search and purchase for spring moves in January, February.
• Busy move times are March Spring Break, April Easter and May long weekend
#13 – No Pricing Games
• Less choice for buyers means less sellers to play pricing against each other
• Buyers will often make more concession in their buying decision with less choice
#14 – Show Time
• Property shows well, almost staged with holiday décor adding to the ambiance
• Tis the season for your home to shine!
#15 – Quality Showings
• Little chance of quick showings and not being prepared to show your home
• Easier time of year to make appointments and give sellers advance notice.
• Higher quality showings
#16 – Right Buyer, Right Time
• The odds are the same for the right buyer looking at your home regardless of the season.
• Right buyer, right time, right home
Top 10 Reasons to Buy Over the Winter
#1 – Competing Offers
• Little or no chance of multiple or competing offers for the buyer
#2 – Service
• Better service from all service providers like the agents, banks, insurers etc. Not as busy now.
#3 – Motivation
• Sellers motivated at this time of year if still trying to sell from summer or fall.
#4 – Negotiation
• Sellers willing to negotiate, been on the market for some time now. Give and take.
#5 – Expired
• Buyers can shop the expired listings market, which has the largest selection this time of the year.
#6 – Closing Options
• Good time of year to make an offer and do the due diligence, buyers can move quickly now or slower in the spring if not in a rush.
#7 – Housing Options
• Easier for sellers to find alternative housing, not as much pressure finding a rental vs. the busy spring and summer season.
#8 – Subject to the Sale
• Great time for buyers to make contingent “Subject to the Sale” offers and get them accepted and movement on the price.
#9 – Moving Services
• Easier time for a buyer to move and find help and services like movers, cleaners, storage.
#10 – Completions
• Better timing for buyers on completions with lawyers, banks land registry. Not that busy and time to attend to you now.
#11 – Competition
• Less competition for the same property from other buyers on the deals that pop up this time of year.
#12 – Rising Interest Rates
Rates continue to move up and the cost of borrowing is exceeding the pace of price corrections so waiting really doesn’t save the buyer getting into the market.
Now that you’re equipped with ammo to overcome any objection, go out there and list and sell some real estate this winter season
Strength and courage,
Wade
